Petroleira Enauta signs multi-million dollar concession contracts for onshore oil and gas blocks acquired in December

Enauta signs millionaire concession contracts for 4 oil and gas blocks in the Paraná Basin. The oil company is committed to diversifying its asset base.

The oil company Enauta informed in a material fact, on the morning of this day, June 29, that it signed the concession contracts for the oil and gas blocks acquired in the 2nd Cycle of the Permanent Offer of the ANP, held on December 4, 2020. 30% interest in four onshore blocks PAR-T-86, PAR-T-99, PAR-T-196 and PAR-T-215, in the Paraná Basin, in partnership with Eneva.

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The acquisition of these four onshore oil blocks marks Enauta's entry into the Paraná Basin, considered a frontier area due to the low amount of exploratory activities already carried out in the region, allowing the oil company to be well positioned to capture new business opportunities. “Enauta took this opportunity to diversify its asset base,” the company said.

According to the statement, Enauta plans to invest around BRL 15 million in exploratory activities. The onshore oil blocks are located in the states of Mato Grosso do Sul and Goiás, with an area of ​​approximately 11.544 km2, an area larger than the entire traditional Recôncavo Basin in Bahia.

In case of discovery, the proximity to the gas consumer market would facilitate the flow of production. The consortium could also replicate the successful model of reservoir-to-wire (R2W), with the generation of electricity from natural gas.

According to the oil company, the value of the signing bonus for these blocks was BRL 2,1 million and Enauta will disburse BRL 633 thousand in the coming days. The Minimum Exploratory Program (PEM) offered for 100% of the blocks was equivalent to 1.000 km of 2D seismic, to be executed in up to 6 years.

Shell, Eneva and Enauta win ANP's 2nd Permanent Offer Cycle

On June 28, the National Agency of Petroleum, Natural Gas and Biofuels (ANP) held the signing ceremony of the contracts for the 18 areas awarded in the 2nd Cycle of the Permanent Offer, 17 of which are exploratory blocks and one with marginal accumulations.

In total, there were seven signatory companies: Shell Brasil, Eneva (ENEV3), Enauta (ENAT3), Imetame Energia Ltda., Energy Paranã Ltda., Potiguar E&P SA and Petroborn Oil and Gas SA

The public session for the presentation of offers of the 2nd Permanent Offer Cycle took place on December 4th of last year. According to the ANP, R$ 56,7 million were raised in signing bonuses in the event and the areas acquired will generate minimum exploratory investments of around R$ 160 million.

Brazil had record oil exports last year and is on the right track, said the Minister of Mines and Energy

The Minister of Mines and Energy, Bento Albuquerque, pointed out that the auction demonstrated that the country is on the right track with regard to the oil and natural gas sector, which had record exports last year, even in a difficult year because of of the covid-19 pandemic

“Even in the face of the biggest oil crisis in recent decades, in this 2nd Cycle there was an expression of interest in 14 sectors of exploratory blocks and in two areas of marginal accumulation. Numbers that by themselves already represented great success. Such interest already demonstrated the attractiveness and consolidated the model of auctions in permanent offer”, said the minister.

According to the general director of the ANP, Rodolfo Saboia, with the contracts signed today, around 20 thousand square kilometers (km²) of exploration area will be added, in six Brazilian sedimentary basins, an area almost the size of the state of Sergipe. “This means an increase of 10% in the exploratory area granted”, he said.

Saboia also pointed out that the signed contracts will bring positive impacts at the regional level. “I highlight, for example, the four blocks acquired in the new exploratory frontier in the Paraná Basin, which could bring commercial production of hydrocarbons for the first time in the Midwest Region, benefiting from the generation of jobs, income and royalties".